Randgold Resources Ltd. Kibali Gold Mine Starts Taking Shape
16.04.2012 | Marketwired
JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 04/16/12 --RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD
KIBALI GOLD MINE STARTS TAKING SHAPE AS CONSTRUCTION GAINS MOMENTUM
Kinshasa, DRC, 16 April 2012 - Construction work on the Kibali project in the Democratic Republic of Congo, which when completed is expected be one of the largest gold mines in Africa, is proceeding rapidly as the developers keep their sights firmly set on first production by the end of 2013.
The plus 10 million ounce gold deposit is owned by Randgold Resources (45%), AngloGold Ashanti (45%) and the Congolese parastatal, Sokimo (10%). The project is being developed by Randgold who will also operate the mine. The completed Kibali operation will comprise an integrated underground and open pit mine, a twin-circuit sulphide and oxide plant with a throughput of 6 million tonnes per annum, and four self-constructed hydropower stations as well as a standby high-speed thermal power generator for back-up during the dry season.
The project is being constructed in two overlapping phases. Phase 1, from Q1 2012 to Q4 2013, covers the metallurgical plant, the first phase of the tailings storage facility, the first of the hydropower stations, the back-up power plant, all shared infrastructure and the completion of the resettlement programme. The cost of Phase 1 is estimated at US$920 million, before provisions, contingencies and escalation. Phase 2 will include the development of the underground mine which is expected to deliver first ore in 2014 and to reach steady state production by 2015, at an estimated cost of US$650 million before provisions, contingencies and escalation. The current Life of Mine plan envisages average annual production of approximately 600 000 ounces for the first 12 years, with an average grade of 4.1g/t.
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ENQUIRIES:
Mark Bristow
Kibali chairman & Randgold Resources CEO
+223 6675 0122 / +44 788 071 1386
Willem Jacobs
Randgold GM operations Central & East
Africa
+27 72 614 4053 / +27 82 905 6797
Louis Watum
GM Kibali Goldmines
+243 994 035464 / +256 782 239767
Kathy du Plessis
Randgold investor & media relations
+44 20 7557 7738 / Email Contact
Website: www.randgoldresources.com
